A default will be construed to have occurred, if at any time prior to October 1 2013, 00.01 UTC, BTCST will be late by at least 14 calendar days, in disbursing either any regularly-scheduled interest payment, or any withdrawal request, by a valid account holder of BTCST.

The last regularly-scheduled interest payments went out on Monday 13th August. So the payments that were due on Monday 20th August are currently 8 days late, and will be 14 days late on Monday 3rd September.

I don't know the date of the earliest unpaid withdrawal request. Perhaps that's where the date of September 1st comes from.

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A default will be construed to have occurred, if at any time prior to October 1 2013, 00.01 UTC, BTCST will be late by at least 14 calendar days, in disbursing either any regularly-scheduled interest payment, or any withdrawal request, by a valid account holder of BTCST.

The last regularly-scheduled interest payments went out on Monday 13th August. So the payments that were due on Monday 20th August are currently 8 days late, and will be 14 days late on Monday 3rd September.

I don't know the date of the earliest unpaid withdrawal request. Perhaps that's where the date of September 1st comes from.

Right, bitlane asked for a withdrawal a few days before the 20th, then posted 3 hours later that he hadn't received it yet. Naturally, this caused a cascade of withdrawals because pirate was unplugged for a few hours. When he came back and needed to pay out a significant portion of his operating funds he said "fuck this, I'm done". I still expect a partial payout and I believe it could have been a full payout if there had been less of a shitstorm, but herds will be herds.

I hereby declare the bet decided, in favor of Vandroiy. A withdrawal request made on August 15 2012, is still outstanding as of today, Aug 30 2012, which triggers default as specified in the contract, via "late by at least 14 calendar days, in disbursing either any regularly-scheduled interest payment, or any withdrawal request, by a valid account holder of BTCST." clause.

In private communication, pirateat40 has agreed with this assessment and conceded the bet.

Since Vandroiy is currently traveling, we have agreed via private communication to set up the 10k BTC disbursement of escrowed funds sometime in September, when he is back.

I hereby declare the bet decided, in favor of Vandroiy. A withdrawal request made on August 15 2012, is still outstanding as of today, Aug 30 2012, which triggers default as specified in the contract, via "late by at least 14 calendar days, in disbursing either any regularly-scheduled interest payment, or any withdrawal request, by a valid account holder of BTCST." clause.

In private communication, pirateat40 has agreed with this assessment and conceded the bet.

Since Vandroiy is currently traveling, we have agreed via private communication to set up the 10k BTC disbursement of escrowed funds sometime in September, when he is back.

I hereby declare the bet decided, in favor of Vandroiy. A withdrawal request made on August 15 2012, is still outstanding as of today, Aug 30 2012, which triggers default as specified in the contract, via "late by at least 14 calendar days, in disbursing either any regularly-scheduled interest payment, or any withdrawal request, by a valid account holder of BTCST." clause.

In private communication, pirateat40 has agreed with this assessment and conceded the bet.

Since Vandroiy is currently traveling, we have agreed via private communication to set up the 10k BTC disbursement of escrowed funds sometime in September, when he is back.

What will be interesting now is what he does with what he believes to be profits from an illegal venture.

Keep them, presumably? After all, he risked - or at least tied up - a substantial chunk of his own money in order to convince others that yes, he genuinely did believe that BTCS&T was a ponzi scheme in the face of cries of "troll!" and "put your money where your mouth is or shut up!" from Pirate supporters. I think that more than pays off any ethical obligations he might have. Also, he kinda predicted this on about the second page:

The only "pocket ace" I'm afraid of is people discrediting me for obtaining stolen funds I can't pay back for a multitude of reasons. I don't think that is something Pirateat40 cares about though, and I'm not so certain he wants to get back at me. Just playing his game like a pro.

And if you expect me to believe that Pirate's supporters would've let him back away from the bet being offered because of this, you have another thing coming.

What will be interesting now is what he does with what he believes to be profits from an illegal venture.

Keep them, presumably? After all, he risked - or at least tied up - a substantial chunk of his own money in order to convince others that yes, he genuinely did believe that BTCS&T was a ponzi scheme in the face of cries of "troll!" and "put your money where your mouth is or shut up!" from Pirate supporters. I think that more than pays off any ethical obligations he might have.

First off: As someone who has an investment in BTCS&T let me say that I personally have no problem with him keeping the bet.

HOWEVER some of team ponzi (namely JoelKatz) have gone on about receipt of stolen money. So I was just wondering if they were going to play by their own rules.

What will be interesting now is what he does with what he believes to be profits from an illegal venture.

Keep them, presumably? After all, he risked - or at least tied up - a substantial chunk of his own money in order to convince others that yes, he genuinely did believe that BTCS&T was a ponzi scheme in the face of cries of "troll!" and "put your money where your mouth is or shut up!" from Pirate supporters. I think that more than pays off any ethical obligations he might have.

First off: As someone who has an investment in BTCS&T let me say that I personally have no problem with him keeping the bet.

HOWEVER some of team ponzi (namely JoelKatz) have gone on about receipt of stolen money. So I was just wondering if they were going to play by their own rules.

What will be interesting now is what he does with what he believes to be profits from an illegal venture.

Keep them, presumably? After all, he risked - or at least tied up - a substantial chunk of his own money in order to convince others that yes, he genuinely did believe that BTCS&T was a ponzi scheme in the face of cries of "troll!" and "put your money where your mouth is or shut up!" from Pirate supporters. I think that more than pays off any ethical obligations he might have.

First off: As someone who has an investment in BTCS&T let me say that I personally have no problem with him keeping the bet.

HOWEVER some of team ponzi (namely JoelKatz) have gone on about receipt of stolen money. So I was just wondering if they were going to play by their own rules.